One foot in gym for pensioners


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One foot in gym for pensioners

One foot in gym for pensioners
The average retired person enjoys three holidays a year and is fitter than during working years, research by Skipton Building Society indicated yesterday.
The Times, p. 33

Osborne’s Help to Buy scheme ‘risks creating housing bubble’
George Osborne defended his controversial plans to help Britons on to the property ladder after his independent forecaster warned they threatened to create a new housing bubble. He was caused most discomfort by the impact of his new Help to Buy initiative after the Office for Budget Responsibility (OBR), the fiscal watchdog, told MPs earlier that it would offer limited benefits to the economy.
The Daily Telegraph Business, p. 4
Also appeared in : The Guardian, p.2, Independent i, p.7, Financial Times, p.2, The Times, p.29

Bellway benefits from rising house prices
Bellway delivered a jump in profits as the builder benefited from a rise in house prices and buyers took advantage of government schemes to help them climb the property ladder. Under the new Help to Buy scheme, house buyers with a 5pc deposit on the value of a property will be eligible for a government guarantee for a further 15pc.
The Daily Telegraph Business, p. 3

blowing the whistle on football’s debt shame
Britain’s two state-backed banks are helping fund the Premier League’s booming wages and transfer fees. Both Royal Bank of Scotland (RBS) and Lloyds act as bankers to debt-ridden football clubs in the top flight. And they confirmed to The Independent that they participate in lending to others.
The Independent, p. 25

Fears UK branches of Cyprus banks could be ‘sucked in’ to bailout crisis
Britain is trying to orchestrate a rescue of the UK branches of a troubled Cypriot bank, the chancellor revealed yesterday, as he criticised the handling of the bailout for the tiny island at the forefront of the eurozone’s debt problems.
The Guardian, p. 32
Also appeared in : Financial Times, p.10, The Times, p.40

Cyprus moves to stop cash exodus with tough controls
Cypriots are facing draconian controls over how they spend their money, use debit cards or access their savings for at least two months, it emerged yesterday. British pensions will not be paid into Cypriot bank accounts for the foreseeable future, said the Department for Work and Pensions, advising expats to instead open UK accounts.
The Daily Telegraph Business, p. 5
Also appeared in : The Independent, p.31, Financial Times, p.10

Funds/L&G snapping up £131m Cofunds
Legal & General yesterday snapped up Cofunds Holdings for £131m from a consortium of City fund managers. The insurer, which has targeted bolt-on acquisitions under new boss Nigel Wilson, said the deal will help it expand its digital business.
The Independent, p. 54-55
Also appeared in : Financial Times Companies and Markets, p.22, The Times, p.57

Banks should be masters of their capital needs, says IEA
Banks should be allowed to decide themselves how much capital they need to hold instead of being told by regulators, according to a report by the Institute of Economic Affairs. The FPC is expected to reveal that several major banks need to raise the money to cover future losses and higher risk weighting on their assets as well as the cost of compensating customers mis-sold inappropriate financial products.
The Daily Telegraph Business, p. 1-4
Also appeared in : The Times, p.51, The Guardian, p.33

Path eased for banking startups to challenge ‘big four’ on high street
New banks could need as little as €5m (£4. 25m) of capital to get started, the Financial Services Authority said yesterday, but admitted startups would be allowed to fail more easily and potentially put savings of more than £85,000 at risk.
The Guardian, p. 33
Also appeared in : Financial Times, p.4, The Independent, p.53

SFO pledges ‘significant developments’ on Libor
David Green, Serious Fraud Office director, has pledged “significant developments” within the next three months in the worldwide investigation into rigging benchmark rates.
This abstract from the Financial Times was produced by Kantar Media
Financial Times Companies and Markets, p. 18

Deutsche Bank sets aside €500m for Libor
Germany’s largest bank by assets, Deutsche Bank, has set aside about €500m to cover possible fines for the alleged manipulation of Libor interest rates after last week increasing provisions to reflect potential antitrust charges.
This abstract from the Financial Times was produced by Kantar Media
Financial Times Companies and Markets, p. 21

E.U. extends derivatives inquiry to trade group
European Union antitrust regulators have expanded their investigation into whether a small network of major banks unfairly controls the derivatives market.
International Herald Tribune, p. 20

Buffett backs Wall St with Goldman deal
Warren Buffett is poised to become one of the largest shareholders in Goldman Sachs as the billionaire investor delivered his second vote of confidence in the Wall Street bank since the financial crisis.
The Daily Telegraph Business, p. 1-3
Also appeared in : Independent i, p.47, The Times, p.53

Expatriates resist Spanish taxman’s plan to raid savings and assets overseas
British expatriates in Spain plan an appeal to Brussels against new tax rules requiring them to declare assets held abroad or risk tough fines.
The Times, p. 37

China showing signs of its own financial crisis, say economists
China is sowing the seeds of its own financial crisis, with bank debt levels rising to 150 per cent of GDP, Asia’s biggest investment bank has warned.
The Times, p. 57

The above articles appeared on 27/03/13 reproduced with the kind permission of Kantar Media UK. All rights reserved.

Charterbridge Private Financial Planning, Independent Financial Advice, Thornbury, Bristol.